AMCON Closes Sale of Health Food Distribution Business.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--March 27, 2001 AMCON Distributing Company (AMEX AMEX See: American Stock Exchange :DIT) announced today that it has closed the sale of the distribution business and related assets of Food For Health Company, Inc. ("FFH FFH Far From Home (band) FFH Fast Frequency Hopping FFH Frigate Helicopter FFH Final Fantasy High (gaming) FFH Fauji Foundation Hospital (Pakistan) FFH Falling for Her "), its wholly-owned subsidiary, to Tree of Life, Inc. in a cash transaction. FFH, which represented AMCON's health and natural foods wholesale distribution business, will change its name to The Healthy Edge, Inc. and will continue to operate AMCON's 14 retail health food stores (Chamberlin's Market and Cafe and Akin's Natural Foods Market). Tree of Life is a leading national distributor of natural and specialty foods and is headquartered in St. Augustine, FL. William F. Wright, Chairman of AMCON, stated that "Tree of Life is a well respected national distributor in the health food industry and we are pleased to have been able to work with them on this transaction. Tree of Life will begin servicing our 14 retail health food stores effective immediately." Wright added "The proceeds from the sale were utilized to retire FFH's bank debt and provide capital for our retail health food and traditional distribution business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets ." Omaha-based AMCON is a leading wholesale distributor of consumer products including beverages, candy, tobacco, groceries, food service, frozen and chilled foods, and health and beauty care products with distribution centers in Missouri (2), Nebraska, North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). , South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). and Wyoming. Chamberlin's Natural Foods, Inc., and Health Food Associates, Inc., both wholly-owned subsidiaries of The Healthy Edge, Inc., operate health and natural product retail stores in central Florida (8), Kansas, Missouri, Nebraska and Oklahoma (3). The retail stores operate under the names Chamberlin's Market & Cafe and Akin's Natural Foods Market. This news release contains forward looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward looking statements. Moreover, past financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements contained in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 with respect to all such forward-looking statements. Visit AMCON Distributing Company's web site at: www.amcon-dist.com |
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